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Yr10 COMMERCE OUR ECONOMY Flashcards | StudBud

Explore/Yr10 COMMERCE OUR ECONOMY

Yr10 COMMERCE OUR ECONOMY

10 terms·StudBud Administration·19 plays

Basics of the our economy topic #economics

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Questions 10

Answers

1
What is contraction?
Falling levels of production
Level of unemployment rise
Level of unemployment fall
When the baby is going to come out
2
The fluctuations in economic activity that an economy experiences over a period of time?
Business Cycle
enterprise
Inflation
Business Busts
3
What impact will Cyclone Debbie have on bannana prices?
Shift Demand Curve Left Prices Rise
Shift Demand Curve Right Prices Fall
Shift Supply Curve Left Prices Rise
Shift Demand Curve Right Prices Fall
4
What is a variable loan?
A loan that has a fixed interest rate
A loan that has a varied interest rate that goes up and down
A loan that has the same time as the first one
A loan that has the price of the interest rates
5
Balance of trade
the difference in levels of trade between states
the trade of scales in an economy
the balance of trade between two nations
difference between value of a nation’s imports and exports
6
Who controls the Cash Rate? (interest rate at which banks can borrow)
Commonwealth Bank
Australian Government
Australian securities and investment commission
Reserve Bank of Australia
7
How does the new hospital at Frenchs Forest impact the 5 sector model?
Increase Government Investment
Increase Imports
Increase Savings
Increase Tax
8
The study of the economy as a whole
Balance of Trade
Macroeconomics
Microeconomics
Mixed Economy
9
A general rise in prices, causing money to lose its value
Inflation
depreciation
Interest
Consumer Price Index (CPI)
10
A decrease in the value of currency relative to other currencies
Depreciation
Inflation
Recession
Standard of living